AllianceDBS Research keeps Buy on KPJ but lower TP

TheStar Mon, May 18, 2020 10:32am - 3 years View Original


AllianceDBS Research said KPJ has not been spared from operational disruptions caused by the Covid-19 outbreak. Since the government’s implementation of the MCO on March 18, the group has scaled down its operations to comply with safety measures.

KUALA LUMPUR: AllianceDBS Research is retaining its Buy call on KPJ HEALTHCARE but with a lower target price of RM1.10 compared with its previous target price of RM1.35 due to the Covid-19 pandemic.

It said on Monday the RM1.10 was after its earnings revisions and rolling forward its valuation base to FY21.

At RM1.10, this represents a valuation of 27 times FY21 earnings per share (EPS), which is in line with its historical mean valuation.

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